VILLAGE SQUARE HOUSING CORPORATION… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1993

Legal Domicile

Principal Officer

ERIC BOUCHER

Phone

2075537777

Tax Period

2024-01-01 to 2024-12-31

VILLAGE SQUARE HOUSING CORPORATION C/O AVESTA HOUSING, founded in 1993, is a community nonprofit in the Housing & Shelter sector that reported $2.5M in total revenue in fiscal year 2024. Revenue fell 36% from the prior year — a significant decline worth monitoring.

Mission

TO DEVELOP, OWN AND MANAGE RESIDENTIAL SUBSIDIZED HOUSING UNITS FOR QUALIFIED ELDERLY INDIVIDUALS.

Program Service Accomplishments

Program 1

Expenses: $2,606,258 Revenue: $2,497,200

36 UNIT RESIDENTIAL CARE FACILITY KNOWN AS THE INN AT VILLAGE SQUARE, LOCATED IN GORHAM, MAINE.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $9,619

Program Service Revenue $2,446,555

Investment Income $50,645

Other Revenue $0

TOTAL REVENUE $2,506,819

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,634,640

Fundraising Expenses $0

Program Expenses $2,606,258

Other Expenses $971,618

TOTAL EXPENSES $2,606,258

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,506,819	$3,932,436	-0.4%
Expenses	$2,606,258	$3,106,914	-0.2%
Net Income	$-99,439	$825,522	-1.1%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

N/A

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$1,428,187

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JIM HANLEY	DIRECTOR	1.00	Director	$0	$0	$0
ALICE KABORE	DIRECTOR	1.00	Director	$0	$0	$0
JANICE DE LIMA	DIRECTOR	1.00	Director	$0	$0	$0
KIMBERLY TWITCHELL	DIRECTOR	1.00	Director	$0	$0	$0
DR RENEE FAY-LEBLANC	VICE CHAIR	1.00	Director	$0	$0	$0
DEBRA ORELLANA-MEJIA	DIRECTOR	1.00	Director	$0	$0	$0
TIMOTHY AGNEW	TREASURER	1.00	Director	$0	$0	$0
PETER BASS	DIRECTOR	1.00	Director	$0	$0	$0
CHOMBA KALUBA	DIRECTOR	1.00	Director	$0	$0	$0
JAMES ELKINS	DIRECTOR	1.00	Director	$0	$0	$0
ANDREA DODGE PATSTONE	CHAIR	1.00	Director	$0	$0	$0
DR JULIA REDDING	DIRECTOR	1.00	Director	$0	$0	$0
LYNNE ROCHE	DIRECTOR	1.00	Director	$0	$0	$0
NATHAN POORE	DIRECTOR	1.00	Director	$0	$0	$0
DOUGLAS STOCKBRIDGE	DIRECTOR	1.00	Director	$0	$0	$0
PETER PITEGOFF	SECRETARY	1.00	Director	$0	$0	$0
AMY SMITH	DIRECTOR	1.00	Director	$0	$0	$0
AMANDA GILLIAM	VP OF PROPERTY MANAGEMENT	1.00	Officer	$0	$28,558	$162,867
KIM FARRAR	VP OF STRATEGIC INITIATIVE	1.00	Officer	$0	$18,383	$182,581
ERIC BOUCHER	INTERIM PRESIDENT AND CEO	1.00	Officer	$0	$47,322	$253,029
REBECCA HATFIELD	PRESIDENT (PAST)	1.00	Officer	$0	$23,000	$445,503
KATY SMITH	VP OF SENIOR LIVING	1.00	Officer	$0	$40,500	$207,649
SARA OLSON	VP OF ADVANCEMENT	1.00	Officer	$0	$30,500	$176,558

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$2,506,819	$2,606,258	$3,615,419	$-99,439
2023	$3,932,436	$3,106,914	$3,876,259	$825,522
2022	$3,116,068	$2,998,069	$5,537,553	$117,999
2021	$2,944,780	$2,863,783	$5,696,859	$80,997
2020	$2,707,552	$2,770,851	$3,800,094	$-63,299
2020	$2,707,552	$2,770,851	$3,800,094	$-63,299
2019	$2,703,745	$2,591,387	$3,747,395	$112,358
2018	$2,594,154	$2,551,635	$3,817,035	$42,519

VILLAGE SQUARE HOUSING CORPORATION C/O AVESTA HOUSING